People always ask me where I can get free COMPS for properties....

Here are a few valuable online tools and hints on how to best use them:

1. Local MLS. The best source for listings and sold information is your local MLS, or multiple listings service, a privately owned database into which sales agents enter property listings and make changes to those listings. Each MLS is owned by a company that collects and publishes market data for a geographic area. Some cities have more than one competing MLS. Some make their listings publicly available online. But it can be difficult to find these and to distinguish them from other sites that use the term MLS for marketing purposes.

• Try this:  Search for your local MLS using your city name and "multiple listing service" or "real estate information network." Ours in Jacksonville, FL is NEFAR.com

2. Realtor.com is operated by Move, on behalf of the National Association of Realtors.  It offers direct feeds of properties for sale from more than 900 multiple listing services nationwide. "More than half of the 4 million-plus listings on Realtor.com are updated every 15 minutes and the rest are updated once or twice a day," says Julie Reynolds, Realtor.com spokeswoman. Many MLSs also feed sold data to Realtor.com, allowing you to learn of a sale closing within 24 hours, long before the sale is recorded with the county. Counties can take 30 to 45 days to record a sale.

• Try this: Use Realtor.com's home values tool to click on a city's name and see the average number of days homes were on the market, the average listing price and the average sale price. To find recently sold homes, zoom to the street level and click the "recently sold" tab beneath the map. Learn how many days a property has been listed on the site: Click on a listing, choose "more" in the "Full listing details" box atop the pop-up, then see "listing information," halfway down the page.

3. Altos Research offers free information about local market conditions, including average days on market, median price per square foot, number of homes for sale, trends, market conditions and median sale prices. Or subscribe to Altos' weekly "market intelligence" reports ($19/month) for ZIP-code-level data, more statistical and historical analysis and trends in four local price categories. But Scott Sambucci, Altos vice president of sales and analytics, cautions: "We don't intend our product to be used as a sole source of information for somebody to do comps."

• Try this: Click on the small text link "Free Research" at the bottom of the Altos home page;  enter your city's name in the search bar at the top of the next page (information is not given for all cities). Or, in the "free research" area, click on "map" next to the search box, then click on the red bubbles for detailed charts and data for each location. Send the information to yourself via Facebook, Yahoo!, e-mail, Twitter or instant message.

5. Homes.com shows links to property records for many cities across the country. The site's listing data come from public records, multiple listing services, national franchise agreements and from Homes.com's client brokerages and agents, according to spokeswoman Patty McNease.

6. Zillow.com uses sold information from county records to display recently sold property listings. (On Zillow's home page, click "recently sold" on the lower, far right corner of the big blue search box. Or, on the map view, select "recently sold properties" under "refine search" on the upper, far left; yellow house icons indicate "sold" properties on the map). Data includes date sold, last recorded sale price, property tax information, Zestimate data and photos. The number of days the property has been listed on the site, shown for active listings, is removed when a home is sold, says Zillow spokesperson Jill Simmons. Zillow gets listing information from brokerages and MLS companies.

• Try this:  See David Gibbons, Zillow's director of community relations, show how to find comps using Zillow in this YouTube video. Subscribe to e-mail alerts of recent sales as they happen in your neighborhood: Enter your home's address into Zillow's search bar and, from the property's page, click "get e-mail alerts" on the far left.

Keep in mind: Many (not all) online listing sites make their money serving real-estate agents. In addition to displaying property listings, they sell sales leads to local agents. This means that they may want to steer you to agents who have paid for promotion on the site. Think of it as part of the deal: Those agents are paying for your free access to MLS listings. If you're looking for an agent with expertise in your neighborhood, this is a good thing. If you want to search independently, you'll learn to work around these features.

Why is this important Jack? I get so many people who come to me and ask me why Zillow has their house listed for the wrong price month after month, and I calm them down and say, Zillow does not have the most accurate information. It pulls data that can be 30-60 days old. Not good if you need or want to sell your house in a few days. So work with a Realtor to get a good comp together for your next sale.  Use these sites as a starting point, but all the best data, in Jacksonville, FL at least is on the MLS.

Build relationships with the neighbors where you work

I have been working in Murray Hill, Jacksonville for many years. I have many properties there. Some of the properties are good but many are great, and for the simple reason that they are surrounded with great neighbors. These neighbors help me to keep an eye on the house and to make sure I know what is going on in the neighborhood, so we, together can improve it.

Case in point, my fiend, Dan (name changed to protect the neighbor), he always walks by my door, says what he thinks of the improvements and enhancements, is always willing to lend a hand to help. Just yesterday the property needed a good cutting and the edges of the sidewalk had not been maintained, so I asked him what he would suggest.

He showed up with an edger and was able to help me edge the property and get me up and operational. The way this thing edged was professional and I am sure it will help my property look better than it would have with out it, Dan even did all the work, all in exchange for a bottle of water (which I suggested he take in the excessive heat of the day).

Dan's thinking was that "If I help you make your property look good, my property looks good," which is exactly the mentality you want in any neighborhood where you are working. I am thankful to have Dan as a friend, and he even told me about a house that may be available in the neighborhood from one of his friends who needs to sell it.

Jack

Home decor can help you sell a house

When creating your home decor, you have to take your taste and personal preferences into account, but your environment is also important. Jacksonville homes are often airy and have many windows to give a breezy, cooler feel. This style makes sense with you consider the long months of hot and humid weather for which Florida is famous. Some decorating materials, such as fuzzy blankets and corduroy upholstery, are out of place with the climate and simply wouldn’t fit with the feel of a Florida house. The most logical choice is to find natural resources that already exist in Florida. Objects and materials you see every day are natural extensions of the world outside and can be used to decorate any Florida home with creativity and style.

Shells

In most states, you have to take a trip to the beach to collect shells. In Florida, you’re luckier. Dig down into the soil in most Florida properties and you’ll find a good collection of shells. If you do go to the beach, the shells will be more colorful and varied than those found around inland lakes simply because they’re from ocean creatures. Use these finds as creative accessories to add natural accents to your home. String shells and starfish into garlands and hang them instead of valances over your drapes. Glue rows of shells onto thrift store lamps to transform trash into treasure. Fill a large jar with colorful shells as an accent piece or make multiple strings on fishing line to create movable curtains indoors or on a patio.

Plants

The goal in Jacksonville homes for most of the year is making your environment cooler. One of the best ways to do this is by incorporating plants into the decor. Greenery has a cooling effect on the psyche, plus green plants help to clean the air in your home. Fill one empty corner with a palm tree or miniature orange tree for a distinctly Florida feel. Pot a branch or two of sweet smelling jasmine and keep it in a bright and sunny window. You can even fill a long planter with sand and plant dune grass for an interesting coffee table decoration.

Cypress

When it comes to trim for kitchens and molding in the rest of the house, few woods work as well in Florida homes as cypress. Cypress wood is very resistant to moisture, which is key in homes that are sometimes filled with high humidity. This native Florida wood includes a chemical that makes it resistant to rot and gives it an extremely long life. Use cypress for wood trim, moldings, cabinet doors, and even tables and shelves to give your home a true Florida feel.
Just as you would respect any other aspect of nature, searching for examples of Florida’s natural resources should be done with care. Search for shells on your own property or ask about local policy before collecting them on a beach. Use licensed purveyors of wood and native plants to get legal, as well as healthy, materials with which to decorate your home.

Why is this important Jack? It is important to prepare your house for the sale. Staging of furniture and removal of controversial items is key to the sales process. Herbs such as basil and rosemary are readily available and you can place a bundle of these, with a rubber band, by the sinks to give off a natural smell as well. Little things that do not cost alot can make a big difference. 

Biggest decisions take time

I was at a dinner party last night and it was more like a listing presentation with a couple of Realtors at the table with myself and the prospect. He had purchased a house before the 2008 crash and paid about what he can get for the house now. This man has built and sold many companies and is very well off.

His issue was that he knows the market may not have caught up with him, but he has other plans, he wants to travel to Europe, he wants to sell his current company and be free to fly with his girlfriend. He is ready to cut ties with the old and move on....

But to a man who has never lost anything, and always fought to succeed, it is tough to accept that you may lose money on a deal. A few dollars is one thing, but hundreds of thousands is another. Will he live to fight another day, sure thing, but he wants to sell, on his terms and this is getting in the way of a bigger picture.

Most of the luxury properties in the USA, are marketed in higher end publications. Buyers from overseas are a good bet for these types of properties, and the marketing is always changing, the sooner he can commit, the sooner the Realtor can get the information about the property in the MLS and these higher end sources.

But it is hard to push someone who is not in the habit of losing money. So you have to be patient, work with him to show the positives of selling and moving on and drive home those options. It is sales and overcoming the objections of the prospect.

Thank goodness I have a great Realtor!

Jack

Change is a good thing in Real Estate....

Presented with the facts, the National Association of REALTORS®' board of directors saw past personal issues and fears, making a historic decision to enable realtor.com® to compete more directly with third-party aggregators, particularly Zillow and Trulia.

The board recommended amending restrictions to the agreement that governs the site’s operation in order to enable realtor.com® to:

• Display unlisted new homes and new-home communities.
• Display unlisted rentals.
• Obtain listings from entities that are not REALTOR®-owned and controlled, as well as from brokers who are not REALTORS®.
• Identify properties where a notice of default has been recorded, auctions of distressed properties, short sales, foreclosures, and bank-owned properties. (Listing brokers will have the option to opt out by calling the realtor.com® customer care center.)

Individual consumer for sale by owner properties remain precluded from the site, and the changes will be implemented in a way that preserves realtor.com®’s accuracy advantage, according to Move executives.

There was no shortage of unease about the changes, particularly those that would allow listings from brokers who are not REALTORS®. But when NAR and realtor.com® executives presented a comprehensive look at the history of the site and the inroads third-party aggregators had been making since 2010, the recommendations passed overwhelmingly on a voice vote.

Of note, 1999 NAR President Sharon Millett, who was “there at the creation” of realtor.com®, spoke persuasively in favor of all the requested changes. “There was a time when restricting the site to only REALTOR® listings was appropriate,” she said, “but that time has passed.” Now, it’s time to compete head-to-head and give consumers what they clearly want: an accurate, comprehensive site, she said.

Wowza, now this is a shot across the bow to Zillow, Trulia and all the other 3rd party sites that realtor.com® will not change with the times. To see 625 people get together in a room and make that change is incredible. This should allow better sharing of listings and information, as an open platform fosters more creativity!

Jack

The tree fell, and we heard it!

I own a few properties in Jacksonville. If a tree or other object falls in my property, the law states that I am not responsible for anything, unless the tree hits a building, in which case I am responsible for repairing the other structure. But why do we need to wait for a tree to damage a primary house? What if the same tree takes out a shed or fence or other structure?

There has to be a cost associated with damage, albeit from God or some other being. We need to know that we can count on someone acting as insurance in the event of someone else's careless regard for their property, in leaving dead decaying trees on the property.

The law is flawed in my estimate, I want to have all of my property protected by the other person's neglect. Sadly I am a minority, or the politicians have some BS excuse for it, or some other reason to not do it. Maybe someone can enlighten me as to why insurance does not cover other's neglect in cases of damage to any part of the property.

Jack

Your word is your bond

I work with many contractors and I have heard the jokes about them. CON is the first part of the word, meaning you never can take what they say for be the whole truth, with TRACTOR being the motion after the agreement is made. Of course it helps to have one's Contractor mobile phone in working order.

So I had worked on an agreement with a Contractor to install some items for me, spoke with him last week a few times on Thursday and Friday. The Contractor even went to the job site and gave me a quote for the work. Called me over the weekend said he would be there Monday. What am I to think?

So Monday rolls around, I call him in the morning, confirm we are still on. I receive "The number you are dialing is not in an area to take calls". Hmmmmm, ok we have this invention called Texting, I will try that with the number I have for him. I send the text, "Work, address" and still crickets, nothing.

A few years ago I went to the Library to a sale they had on books on contracting work to professionals, a large group of How-To books. I bust my rear on projects, so I know how to do the work, I choose to use professionals otherwise. So with my books in hand, I read up on my task and I will go and take care of it myself. I already had the materials, so finding the contractor was just a formality.

Again, it is disheartening to know I have to go out in the sun, humidity and get the work done, but when the buck stops with you, you gotta do what you gotta do.

Jack

I really like my iPhone

I love technology, I always have, I used to play my Atari games, game all night when younger, but now I play less games, although my wife loves a good game of Candy Crush, and I seem to blog with my gaming time. (Life is all about choices). But I really love the fact that with my iPhone, I can consolidate tasks that used to take me hours with new cool apps.

Who does not love a new app? I found one over the weekend from my twitter friend, Katherine Keller, @Chumcubo, have you ever heard of Expensify? This cool app takes all the receipts you get from dinner, Home Depot, the gas station, CVS and allows you to take a picture and categorize them based on projects, needs or whatever you need for your accountant.

There are different levels to the Expensify system, and I am still playing with mine, but you can get 10 free scans per month, then after that it goes to 20 cents per scan. So if you get 100 receipts, it costs you 20 bucks after the first 10. This is a dream for people in Real Estate, not knowing where or what to expense, now you can put lunch with Client 1 here then dinner with Client 2 there.

What it will help for with entrepreneurs is keeping track of the contractor expenses. Yes, I can keep them all in a folder on Outlook, but then I still have to add them up. Expensify types them all in so you have a running total. You have all your data in one area, based on your expenses. The system can get quite complex and cumbersome, you can add more users to your account and it can even cook your breakfast, well not quite, but it will allow you more time to enjoy your breakfast.

I would highly recommend Expensify.

Jack

Do you think you know it all?

I certainly do not, in fact, I tell people, in a humble manner, that what I know would not fill a thimble (anyone remember what a thimble is, hint - check out your Monopoly Game Board pieces). So I dummy down my answer to try and relate to people on their level. I don't know an investor's level of expertise, and I never know everything there is to know about investing, so I always try and listen with my 2 ears, rather than speak with my 1 mouth.

I am sure everyone has heard that saying, that is why you were born with 2 ears and 1 mouth, so you could listen twice as much as you spend talking. We all have friends who are the self-proclaimed know-it-all. In fact, I think they can hold court with a trash can, but in social settings, that is fine. When I am working on my business, I want to find ways to relate to people, so I read.

I read books online, I read paperbacks, I read non-fiction (I read fiction every once in a while, maybe on a cruise, when I am scaling down the work), but I love to read about my business. I love new ideas from people on how they became successful. Most of the time, they take a good idea and add more good ideas to create 1 or 2 GREAT ideas and sell them as their own.

I am all for self-promotion, and I'll be the first to sing the great idea from the top of the mountain, or gingerly let the expert know that the "new idea" may not be the first we have heard of it. But the key is to always be learning, always keep reading, keep challenging your brain to do new things. Life is a puzzle, no clear cut answers or instructions. Keep challenging your brain, you will find YOUR answers. I have found many in reading and working with people.

Jack

Nothing more frustrating that working with people who put THEIR needs ahead of the customer

I am so disgusted with one of my contractors, I thought he had changed his bad ways. I was told he could get work done in a quick manner, but I should have asked for references of the work he had done. Mistake 1) Ask for referrals of the work you are asking to have done. See examples, review past work, speak to the owners and find out if they enjoyed the work.

I should have laid out a project schedule of when things were to take place, electrician, plumbing, roof, paint, kitchen etc. I should have made the contractor sign an agreement that he pays me money each day that he goes 7 days past the drop dead date. Mistake 2) Get a project plan, and a good agreement to hold the contractor's feet to the fire.

Followup by phone, email, or text is one thing, but you cannot escape progress or lack of it when you mandate that the contractor needs to be there to see the progress. I would prefer to pay contractors onsite and see them face to face and pay them based on reviewing their work. It works better and is easier to validate their work. While I still have a large amount in escrow with the contractor, Mistake 3) Paying people  by echeck or check without being in person.

Add up all these mistakes, and it makes it hard to sleep, function and live. If married, your spouse will notice and your health will suffer as the fear is an issue. Learn from mistakes and find other people who can work with you and your parameters. Don't settle for contractors based on referral, do you due diligence and check backgrounds of people! Good luck!

Jack

Never give up

I know that there are many people who feel that they may want to give up when they get involved in real estate. Lord knows it is a tough business for those who cannot control their business plan. I have had many a nights of pacing and looking for a solution when most of the time the solution is right in front of you, plain as day.

Fear is a great motivator, it forces you to do things you would not normally do. I have a house that has been sitting empty, it was to be a 21-28 day flip, but my other house has all my resources tied up in it. I could wail, cry and pound sand, but what good would that do? None. I have options. When you have options, nothing can stand in your way.

So I still wake up, wondering where my buyer is of the house, when in fact, I control the buyer, I can plaster the house is for sale, have open houses, offer more and more to the community at hand and see what I can do to make sure the house gets sold and sold quickly. I have the next house to worry about.

So don't let real estate get you down, ask for help, attend real estate meetings, but never, never, never give up!

Jack

So many cool ways to stay in touch with prospects

Prospects for your properties want you, in fact, demand that you communicate with them and keep their interest. You are the shiny object to them and they want you to focus your time and energy on them. Keep their interest, you can work to keep their money working for you in your projects.

Often times people think that email blasts are the only way to communicate. With the Can-Spam act, email is no longer the great medium it once was, and we all need to be aware of spamming people. In fact, your entire account or website can get blacklisted for blasting out messages, without permission.

One way I communicate is through text message blasting, until the Feds find a way to block this too. At about 3 cents a text message, I can send a message out to all the people who have expressed interest in a house and then at the end, offer them the ability to Opt Out of the future messages.

Text messaging is powerful, and it is the new email blasting tool. It is just one way to stay in touch with prospects, but a very powerful and DIRECT way to do so. I used to not use texting, now it is just another tool in my real estate belt.

Jack

Time is the most valuable asset we have

So when you are thinking about where best to spend and use your time, think about the return you will receive for volunteering or donating your time. I find that we can look at deals daily, practice our systems, but in the end, if we are not looking and watching our time, we will fall back into procrastination.

Some of our brains can function doing multiple things at once. Even this second, my subconscious is telling my brain to get my but out the door and take care of the things my wife wants me to take care of for her customer, but I need to communicate to my readers to connect with them. So hence I write.

Do you keep a calendar of events? One of my mentors recommends a calendar, a way to keep track of your day and what you plan to accomplish. Also, it might make good sense for you to plan out your day, 5 minutes the night before. Get an idea of what you plan to accomplish. Plan your work, then work your plan.

Time is fleeting, as I write a blog, and I can write very quickly having written a number of blog posts for multiple blogs, already this morning, and that darn subconscious keeps knocking on my door telling me to get out, get out, get out.  I know that we can do better when it comes to time management, but if you are doing what you enjoy, can't you be happy for a few minutes and share your time with others? I think so.

Jack

Pictures make a difference

If I were to say to you that a picture is worth a thousand words, would you agree? I would think so, but only if the picture is taken with the right light, right settings and done by a professional. I could take pictures all day, but they would not be as nice or as good as a professional.

What about video? Sure video is the new medium of real estate sales. People want  to listen and be entertained by video when surfing the web. That must be why YouTube was purchased by Google. After all, we get lazy, we don't want to read, we want to read to, with moving pictures coming to us.

I think you will agree with me that people want to see a house with good pictures. That is the first indication of a good house. The pictures invite them into the house, first the front door, then the living room, dining room, kitchen, bedrooms, etc. For us to sell houses, we must have good pictures.

Jack

Sometimes a good deal is not a good deal

There are some very good markets here in Jacksonville. The sales from June 2013 show that most of the homes sold were in the 100-300k range. However, is an area that is close to schools and private clubs a good deal, especially when it backs up to a City water cleaning station (as nice as I can put it)?

Sure no one can build behind you, but then again, no one can mask the smell of what is behind you. Amazingly just down the same road, there are homes on a private lake selling for double per square foot what this house is going for, yet the federal government in charge of the pricing thinks it is worth more based on recent sales.

When you get excited about a property, make sure you google it, look at comps in the area, and really get a good idea if the property IS a good deal for you as an investor or homeowner. If you notice a water cleaning station behind the property, remark about it, submit a lower offer, if the location and house are great, and see if there is a way to build a fence in the back to hide the view.

Remember value is built by the sales all around you, look in an area that is rising in value to be the final factor of whether or not this is a good deal.

Jack

Do people go with the flow because its easier?

I was sitting at lunch today and we normally have a table of 10-15 "guys" and we pontificate about nothing, most days, but today was a good day to discuss something! We discussed an event that someone had been having and how it started out 40 years ago, as a grass roots event with bare boned expenses. Sitting around a campfire and everyone brought their own chairs, food, etc.

Now that event has grown to the magnitude of a social club involved where the bring in chairs, tables, nice while tablecloths and of course added expense. For pete's sake they charge 5 bucks for a potato. Really?

So the guy in charge of the event said, that is enough, we are going back to grass roots, bare back style next year. One end of the spectrum to another. But what about the social club? Well, they will have to adjust and work on making money elsewhere, as they should. No club should ever look to profit from what was once a friendly gathering. But maybe it was easier for some leaders to go with the flow and allow it to happen. Nice to see leaders lead and followers follow.

Jack

Sometimes its all up to you

I have contractors who assist me with my houses,  they add a new roof, perform plumbing at the job site, or they work with me to install tile. While they can sit a toilet or remove a vanity, they still miss the little things at the job site. Case in point my house at 3238 Dellwood.

This is a cute 3 bedroom 1 bath home. It needed a LOT of work. So I took it on as a distressed property, I was able to get the house painted on the outside, inside, carpeted, new plumbing, new AC, new kitchen cabinets, new bathroom, new ceilings, ne backyard fence. I really made it look very nice.

But there were little things missing, like landscape, I did get a guy to install some plans and bushes, but I needed some color and I added some pots to the layout with flowers. These pots are nothing huge, just some vinca, some marigolds and some bulbs that are green most of the year. Color against the house, to make it stand out more.

Blinds, I had to add blinds to the inside (some windows were not easy to choose for a blind), but they help to provide privacy in a house. I like my neighbors, but I don't want them to know my business. I added some light fixtures that come on at dusk or with motion, to help with the lights at night. I added some grass seed (bring me some rain!) to the front now I have new grass, new color, and plenty of new items to help compliment what is already there. Caulked holes and cracks, but doing the things that standout as you are the owner, you are the last resort. Sometimes you have to do what you got to do! Its all up to you, to finish and get the job done!

Jack

Weird news from the world of fixing your properties.

Yesterday I was working at an investment property. I was removing the old fence at the property, it was done, needed to go. So I removed the posts, and placed them by the street for the metal resellers to take. In the process of doing so, the neighbors next door, who have 2 great and cool dogs called their landlord to inquire as to it.

So their landlord comes out and wants to ask me what my plans were, and I said I was removing the fence to this far, and was not going to impact the fence for the dogs. So the renters were relieved, but apparently the owner was not. He started challenging me about the new wooden fence I installed. He then said it was not to code, he continued at me with names, his friends with him did the same, and I got fed up with it and called the police.

I have written a letter to the 2nd owner, a lawyer in town, but probably will not write it, a day later, I am still perplexed, but I am winding down. There are many more things to be concerned with in our day to day operations. This is pittance compared to all of them.

So I called the police, they were in the area, and busy for the day, but they did stop by and I explained what happened, the owner was gone by this time, the tenant came out and we had a nice discussion, but the owner was just a complete you-know-what. I stood my ground, did not back down, but no one wins in an argument, so remember, sometimes it is best to pack up your stuff, turn the other cheek and avoid confrontation, especially when the other person is bent on just picking a fight.


Jack

Building a tribe

I agree with Seth Godin, blogging to the masses is not sending a clear message, it is, after all, just more noise to the masses. Who needs more noise? We get plenty from external sources, we need to keep on track and do a better job of blocking out the garbage, so that we are focused to receive the clear message when it arrives.

He often talks about tribe building, and why not? With the tribe, you have the ability to have a leader and followers. People in the tribe believe in what the leader is saying and doing. Stronger bonds are made among members who follow the leader. Bonds we can never make with spamming of people with a message they do not want to hear.

3238 Dellwood Avenue, Jacksonville, FL 32205

I have a very cute house that we have renovated from the ground up. It was a 2 bedroom, 1 bath home and we took the room in back and added a closet to create a 3rd bedroom. We updated the bathroom and kitchen area to include new amenities, all new appliances will be added prior to closing and we have added a new fence to the backyard. Pictures are available at  3238 Dellwood Avenue, Jacksonville, FL 32205

This really is a perfect starter home for the person or family with a dog, children, fenced yard in front and back. Great area and neighborhood. Solid street with good families. Prices are rising in Murray Hill, do not miss this great opportunity.